Ideas for Success: Why should we give interest on loans?

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Ideas for Success: Why should we give interest on loans?

  1. 1. Ideas for Success:It is often claimed that -When asked the biggestinvention in the world,Albert Einstein simply said:Compound interest!There is no real proof that he said this.
  2. 2. But the concept of ‘Interest’ isinteresting.In the beginning loan was givenin the form of seeds.Now, one seed can give you somany more seeds whencultivated. So, the repaying isnot one seed but many moreseeds!
  3. 3. Same applies to cattle.A cow given in loan will giveyou many calves. Obviouslyrepayment will be more thanjust a cow.So interest is for sharing thewealth generating potential ofthe ‘loan’ given to someone.
  4. 4. Later on same thing gottransferred to theMetal Coins.Now, whoever thought of itfirst,from this simple interest tocompound interestmust be an innovation! Isn’t it!
  5. 5. When we think of inventionsand innovations, we just thinkof mechanical things.But the history of finance hasmany such innovations.…………………………………………………………………………….There are many important creative principlesin this little story.Learn how to create great ideas:IDEA MACHINE: Practical Creativity TrainingMumbai: 19th -20th Aug 2011Details: www.puneetbhatnagar.comCall: 09820003092punito@thecreativitymission.com

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