Before I say anything further, let me declare: I am a big zero when it comes to understanding the jargon used by bankers and ‘finance experts’.
Last week, our banker was trying to sell a scheme to us that offered returns at about 15%. In simpler terms –
If I put INR. 1,00,000 in the bank for ONE YEAR, at the end of itI will have INR. 1,15,000/-.
Money surely doesn’t grow in banks.