Kumbhakonam is a small town in Tamil Nadu, known for its temples and cultural heritage. Unfortunately, in languages such as Telugu and Malayalam, the name is colloquially associated with fraudulent schemes and practices. Ever wondered why? Here’s the story behind!
In the early 20th century, numerous small banks and chit fund companies in Kumbhakonam collected huge sums of money from depositors, promising them big returns in just months. Unfortunately, these returns never materialized, as the promoters often absconded with the collected funds. This not only left many investors in financial distress, but also tarnished the town’s image. As these are some of the earliest financial and most infamous scams in Indian history, the name of the town ‘Kumbhakonam’ came to be associated with the any financial fraud or scandal.
Another version attributes the negative connotation to the establishment of some of the first English schools by the British here, during the pre-independence era. At that time, these schools were perceived as a devious scheme to undermine the Indian culture. This perception further led to the town’s name becoming synonymous with deceitful or suspicious activities.
Despite these unfortunate associations, Kumbhakonam is known for its friendly people and beautiful temples. The negative association lingers, casting a shadow over the town’s positive attributes for certain people.
Pic: Mahamaham Tank, Kumbhakonam; Courtesy: Wikipedia
