Discussion
Which of the following microfinance institutions is the brainchild of Prof. Muhammad Yunus?
Answer: C
The institution is the Grameen Bank Model.
Muhammad Yunus founded Grameen Bank in Bangladesh in the 1970s and 1980s to lend small amounts to the poor, and he won the Nobel Peace Prize in 2006 for this work.
Self-Help Groups, Joint Liability Groups and rural cooperatives are other forms of micro-credit in India, not his creation.
Grameen Bank gives small loans without collateral to groups of poor borrowers, mostly women, who guarantee each other's repayment. It began as a project in Chittagong in 1976 and became a bank in 1983. Yunus and the bank shared the Nobel Peace Prize in 2006.
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