Banks have suffered from runs right from the earliest times. Our thorough understanding of bank runs comes from Douglas W Diamond and Philip H Dybvig, who in 1983 obtained deep insights into the fundamental paradox of banking and won the 2022 Nobel Prize for this work. Banks are repositories for consumers’ cash. The cash in turn is put to use by banks. However, banks make investments with that cash and generate income, and this tends to tie up money, which cannot be immediately liquidated.