Wednesday, January 31, 2007

Give microcredit to 160 million in India - Yunus

Muhammad Yunus was in India in connection with the Satyagraha centenary celebrations. (For those who do not know, Mohandas Gandhi launched the Satyagraha movement - a novel way of non-violent mass protest - in South Africa to get more rights for Indian immigrants in White-ruled South Africa, 100 years back. Later on, he came back to India to lead the country to freedom from the British rule. The function has been organized by India's Congress Party, the leading partner in the ruling coalition.)

Yunus addressed the gathering and has also been talking to press otherwise. He has talked about financial apartheid - of financial institutions not providing credit to poor. He says 16 million people in Bangladesh have been provided with micro-credit. If the same percentage is extended in India, then at least 160 million people should be given micro-credit in India.

Financial Express Article

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