I am a master in India

Chapter 78 Lucky Enough
Taj Ali's dark brown skin wrapped around his lanky, muscular body, smooth and taut like a boxer's.

In the dim little room, a head of thick short silver-gray hair, even lighter than the goatee, caught people's attention.

He mostly wore a cotton khaki shirt and plain white western trousers. Although his clothes were simple and cheap, they were always washed clean and ironed.

After making his request, he didn't rush Ron to express his opinion. His skinny hands occasionally pinched a few dates from the plate beside him, which was a snack that most Indians liked.

Ron was very surprised by Taj Ali's request or request. He originally thought that the other party would propose conditions such as taking a commission from the transaction.

This is how they negotiate when dealing with customs and police.

But today was an accident. The unspoken rules of traveling in Mumbai seemed to be invalid in the slums.

"I can come once a week and tell them everything I know. But like I said, I'm not a professional doctor and I can't guarantee that I can treat all the conditions."

"That's enough." Tej Ali smiled. "Anand and the others have been with you for half a year and haven't even been to the hospital once. That's enough for the slums."

"Okay, I'll come every Thursday. If there are patients here, have them prepare in advance."

"The people at the dock are easy to deal with. I can see that Rahul likes you."

Rahul is the leader of the fishermen in the dock area, and Ron's goods were shipped out to sea from there with his approval.

Every slum or poor place in Mumbai has such a leader. They are not bosses in the sense of gangs, but their power comes from the people who love them.

They are also the sole stewards of the slums, resolving disputes that escalate into conflicts, mediating disputes over the use and ownership of assets, and even seeking their advice on everything from employment to marriage.

In a sense, people like Taj Ali completely replace the government, and they manage more and broader areas than the government.

Of course, not everyone can be a slum boss. He must love the residents like a saint, and act impartially and selflessly, just like today.

Tej Ali told Ron that Rahul would welcome him very much as long as he did not harm the interests of the fishing village.

This is an exciting signal, which means that if he needs it in the future, he can mobilize the resources here at any time.

Don't look down on poor places like slums. Many profitable transactions in Mumbai are completed in these areas.

With their approval, Ron finally had his own sphere of influence in Mumbai. Although it was not very stable yet, it was a good sign.

After bidding farewell to Taj Ali, Ron returned to his loan matters. He needed to prepare in advance as he would need the money soon.

However, to Ron's surprise, when he and his accountant Harus explained their expectations to the Indian bank, their loan application was rejected.

The bank's response was simple: Ron had nothing to mortgage. He rented his house, his company office, and the storefronts at the train station and airport.

He didn't have even a tiny bit of fixed assets, so even if he showed the company's bank statements, it wouldn't work. It was completely impossible. The Indian bank's strange loan policy caught Ron off guard.

Now there are two options before him: either spend money to buy an apartment or a piece of land, and then mortgage it to the bank for a loan.

Or try other banks, maybe they have different policies.

There is no need to think about the first option. He is already short of money, so where would he get the extra money to purchase fixed assets?

So Ron took Harus to Union Bank, Industrial Credit Bank, and a private bank.

As expected, all state-owned banks rejected his loan application. By this point, Ron had realized that this was a nationwide policy.

In 92, India's economy was still in a very difficult situation. Last year, shipping gold to Europe to exchange for foreign exchange reserves was considered a shame by many elites.

The national economy was in imminent danger, and banks were tightening their lending requirements. In short, no loans without collateral. Another private bank was willing to lend, but their conditions were even more extreme: if there was no collateral, they would offer company shares in exchange.

It wasn't just a few percentage points, but more than 60% of the shares. Ron was so angry that he laughed. It was ridiculous.

He had no choice but to use his connections to ask Harry and Singer for help. They helped Ron find a senior bank official, but the feedback was not optimistic.

“They want 30% of the loan amount in return?”

"You know, Ron, it's the rules." Harry shook his neck.

"But I heard that usually only 10% to 20% is enough. Why do I need 30% this time?"

"Because you have nothing to pledge as collateral, helping you get a loan is equivalent to circumventing the policy, and the cost will naturally be higher."

“So, if I want to get a loan of 300 million rupees, the actual application amount must be at least 430 million rupees?”

"That's about it."

Ron was once again amused by this ridiculous rule. This was why he was unwilling to borrow money from the bank.

He had heard that the money borrowers received was different from what was stated in the loan contract, because part of it would be given to senior bank officials as a bribe.

This is not directed at him, it is the same for everyone, the whole country of India.

But this time he couldn't do it, as he didn't want to waste 130 million rupees. At the same time, he would have to pay interest on the loan of 430 million rupees in the next few years.

The cost was too high. 130 million plus interest, the money he lost far exceeded the 300 million he gained.

"Ron, those who pass the bank's review and qualify for loans in India are already lucky enough. Countless people are stopped outside banks every day and have nowhere to turn," Harry reminded him.

"I know, I'll think about it." Ron smiled at him.

He knew Harry meant well and was telling the truth, but this kind of "luck" was a little too ridiculous.

With this calculation, he might as well seek private lending, such as Khad Khan.

But this is also a path he is unwilling to take. Unless it is absolutely necessary, he is unwilling to owe favors to the gang.

It is the hardest to repay favors from officials and gangsters, and he has been trying his best to avoid this situation.

It seems that we have to think of other ways. Fortunately, there is no news from Rashid for the time being.

Bored and with nothing else to do, Ron decided to go to Leopold's Bar for a drink. Perhaps his talented friends had some unconventional ideas.

But before he could leave, Mary called.

"Ron, are you free to come to the studio?"

"what's up?"

"Nothing serious, just wanted to chat. Also, Lena missed you, and there's a producer who wants your help."

"Okay, I'll be there right away."

He hadn't interacted with Mary and the others for over a week, so it would be nice to go and discuss some big business.

(End of this chapter)