Man threatened to beat me if i didnt give him money... What better can i do in such situations?

So I am M22, in college, I had just got done with my lecture, me and my two friends thought lets have some tea at the local tea stall. So we went, we ordered our tea, we were talking and suddenly a man came and asked me are you maharashtrian? I said yes, then he suddenly started showing me his tattoos, while he was doing this i quickly got alerted as he was smelling like alcohol, so once i got that, i didnt much react to him. Then he told me he has lost his iphone , i was like ouu, then he said i will not ask you for money but can you give me some money to eat and i was like no sorry, i cant. He said he has 4 cars , 3 bunglows and 3 hotels. I said sorry but i cant give you money please ask someone else. So he got angry on this and started shouting, " you guys go to 5 star hotels and you cant even give some 50 rupees, you know much money i have, i will buy you" and i just said very calmly i am sure you must have all that money , i have no doubt but i can't give you money. Then he said i will beat you up, give me money and i still said i cant give you money, then he said i will call more people to beat you up, at this point my friends are just scared they are not able to do nor say anything, but i kept talking that i still cant give you money and i just stood there with a weird face. ( Inside i was just shit scared to be honest but on the outside i just didnt know how to react so i was just repeating myself with a straight face) So this banter kept on happening and after one point that man just left us mostly realising that this man is not getting scared. But this incident really distrubed me. I want to know what should i do in such situations? And how to be safe ? Like thank god nothing bad happened today but i just want to be safe and need that quick thinking. What if someone does something someday and not just talk , i am scared to be honest, especially when i am with someone i care . God forbid. What can be done ? How can i deal with such situations better ?