Two bankers start a website to draw the common man into talking money and help him understand the basics of banking
Most people would have problems locating their bank statements even if they were handed a shovel and a magnifying glass. A greater number would scoff when Sujit Guha and Gautam Majumdar say banks are pleasant places where every senior citizen is offered a chair and a glass of water. Have they confused banks with hotels? They insist theyre speaking from inside experience. Guha was manager at various branches of the State Bank of India for 35 years while Majumdar,now a writer and consultant,was with UCO Bank for more than two decades.
Four months ago,they put their combined knowledge into a website (www.trustbanking.org.in),to draw the common man into talking money by understanding the gritty details of banking.
Unlike in the West,where even teenagers are money smart,Indians are largely financially illiterate, says Guha. Even smart,young professionals generally restrict their banking to the ATM. They wouldnt realise it if a bank goofed up, adds Majumdar. One of his relatives learnt this the hard way when her bank wrongly sent an outstation cheque for local clearance. The bank not only failed to clear her cheque,causing her to lose interest on it for 15 days,but also deducted Rs 75 as returning charges. Such errors happen all too often,but 75 per cent of bank customers do not keep track, he says.
It isnt only fear of numbers that makes one postpone the bank visit,there are also the serpentine queues. How many people know that the RBI has benchmarked the time needed for a bank to render particular services? asks Majumdar before rattling off the numbers. Fifteen minutes for encashment of cheques,30 minutes for getting a demand draft.
The website,which looks at banking from a laymans perspective,includes sections on features of a cheque,credit and debit cards,basics of a bank loan and idle funds. Guha adds that it is a common practice to keep excess funds in the savings account,especially by the elderly. Imagine the huge loss of interest. I advise them to leave funds for exigencies and transfer the rest into a fixed deposit account. As the site details,the sweep account is another alternative. These are savings accounts linked to fixed deposit accounts. Any excess fund above a certain threshold gets automatically transferred to a fixed deposit account,doing away with the problem of idle money, he adds.
The site has attracted an encouraging number of hits and among the popular sections is the chart listing the interest rates being offered by various banks. Thus,while SBI offers 4.5 per cent interest per annum on a 15-45 day deposit,the Punjab National Bank quotes a 4.75 per cent for the same duration. Most people assume that all banks offer the same rate of interest, says Majumdar. The chart is updates regularly and comparative figures are there at a glance,enabling one to decide on the bank where a deposit can earn the highest amount.
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This is particularly necessary at times of economic slowdown when everybody wants their savings to go the extra mile, he adds. According to the bankers,the ultimate harakiri is to maintain an inoperative accountaccounts that have not been visited for two years. Quoting RBI figures,they say there is a whopping Rs 1,200 crore lying in inoperative accounts of various banks. The scary part isnt that these funds may is lying idle,it is that these accounts invite fraud. Most banking frauds have insider help. Whats stopping an employee from faking a signature,since he is sure it will never be detected? It is important to visit banks to update ones passbook regularly and operate the account, he says.
Dipanita Nath is a Senior Assistant Editor at The Indian Express, based in Pune. She is a versatile journalist with a deep interest in the intersection of culture, sustainability, and urban life.
Professional Background
Experience: Before joining The Indian Express, she worked with other major news organizations including Hindustan Times, The Times of India, and Mint.
Core Specializations: She is widely recognized for her coverage of the climate crisis, theatre and performing arts, heritage conservation, and the startup ecosystem (often through her "Pune Inc" series).
Storytelling Focus: Her work often unearths "hidden stories" of Pune—focusing on historical institutes, local traditions, and the personal journeys of social innovators.
Recent Notable Articles (December 2025)
Her recent reporting highlights Pune’s cultural pulse and the environmental challenges facing the city during the winter season:
1. Climate & Environment
"Pune shivers on coldest morning of the season; minimum temperature plunges to 6.9°C" (Dec 20, 2025): Reporting on the record-breaking cold wave in Pune and the IMD's forecast for the week.
"How a heritage tree-mapping event at Ganeshkhind Garden highlights rising interest in Pune’s green legacy" (Dec 20, 2025): Covering a citizen-led initiative where Gen Z and millennials gathered to document and protect ancient trees at a Biodiversity Heritage Site.
"Right to breathe: Landmark NGT order directs PMC to frame norms for pollution from construction sites" (Dec 8, 2025): Reporting on a significant legal victory for residents fighting dust and air pollution in urban neighborhoods like Baner.
2. "Hidden Stories" & Heritage
"Inside Pune library that’s nourished minds of entrepreneurs for 17 years" (Dec 21, 2025): A feature on the Venture Center Library, detailing how a collection of 3,500 specialized books helps tech startups navigate the product life cycle.
"Before he died, Ram Sutar gave Pune a lasting gift" (Dec 18, 2025): A tribute to the legendary sculptor Ram Sutar (creator of the Statue of Unity), focusing on his local works like the Chhatrapati Shivaji statue at Pune airport.
"The Pune institute where MA Jinnah was once chief guest" (Dec 6, 2025): An archival exploration of the College of Agriculture, established in 1907, and its historical role in India's freedom struggle.
3. Arts, Theatre & "Pune Inc"
"Satyajit Ray, Ritwik Ghatak were not rivals but close friends, says veteran filmmaker" (Dec 17, 2025): A deep-dive interview ahead of the Pune International Film Festival (PIFF) exploring the camaraderie between legends of Indian cinema.
"Meet the Pune entrepreneur helping women build and scale businesses" (Dec 16, 2025): Part of her "Pune Inc" series, profiling Nikita Vora’s efforts to empower female-led startups.
"How women drone pilots in rural Maharashtra are cultivating a green habit" (Dec 12, 2025): Exploring how technology is being used by women in agriculture to reduce chemical use and labor.
Signature Style
Dipanita Nath is known for intellectual curiosity and a narrative-driven approach. Whether she is writing about a 110-year-old eatery or the intricacies of the climate crisis, she focuses on the human element and the historical context. Her columns are often a blend of reportage and cultural commentary, making them a staple for readers interested in the "soul" of Pune.
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