Grameen bank

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Grameen bank

Grameen bank is a bank which gives loans to the poor village people. The purpose of this bank is to remove the poverty of the rural poor people since most of the people of this country are poor. Professor Yunus is an economist. The poor condition of the most of the people of this country hurts him. So he tries to find out the way of removing poverty. He introduces micro credit system among a limited number of poor people and he becomes successful in his plan. He sets up a bank and today that very bank is known as Grameen bank. His programmes succeed and thousands of people have been able to see better days in their life. However the Grameen bank provides credit to the poor particularly to the poor rural women. Before taking loan from the Grameen bank the poor rural women as to from five of six group of workers consisting of five members in each group. Then they are to set up a center from where the bank will work to give loans and receive repayment of loans. All the group members are to become registered members of the Grameen bank. Each group selects a chairperson and a secretary. They will hold their posts for a year. The group chairperson will be responsible for discipline in the group. Members will conduct their business with the bank thought her. All members are obliged to attend any meetings called. They are fully aware of the rules and procedures. Each member is given a registered number. The bank has raised consciousness among the poor, changed their poor economic condition, has developed their skills and has created employment opportunities. The bank has a positive effect on socio-economic variables, including’s schooling, children nutrition and family planning.

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