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Appraising of the System

What is the n...

Question

What is the name of the success story that met the credit needs of the poor, at reasonable rates, in Bangladesh?

A

Grameen Bank

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B

Reserve Bank

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C

Cooperative Bank

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D

None of these

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Solution

The correct option is A
Grameen Bank

The Grameen Bank is a microfinance organisation and community development bank founded in Bangladesh. It makes small loans (known as microcredit or "grameencredit") to the impoverished without requiring collateral.

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Q. Who is the founder of Bangladesh Grameen Bank?

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(i) NABARD
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(iii) Central Cooperative Banks
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Q. Micro credit or micro-finance is a novel approach to banking with the poor. In this approach, bank credit is extended to the poor through _________.

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