Margayya is a complex and entrancing character with a flair for those fabulously involved minor financial transactions which are an integral part of indian life we first meet him sitting in the shade of a banyan tree, advising the people of malgudi how to extract loans from the co-operative bank a brush with the secretary of the bank, and an accident in which his spoilt son balu throws his account book down a drain, cut short his career as a financier; but after a series of amusing incidents margayya grows rich and reverts to financial wizardry
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R. K. Narayan (1906–2001) was one of the most prominent Indian novelists of the twentieth century. Most of his stories are set in the fictional South Indian town of Malgudi, a place that Narayan populated with numerous characters. He was the recipient of many awards for his work including the National Prize of the Indian Literary Academy, India's highest literary honor. In 1980 he was awarded the AC Benson Medal by the Royal Society of Literature, of which he was an honorary member and in 1982 he was elected an honorary member of the American Academy of Arts and Letters.
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