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Micro-Credit Must be free of Political Interference: Yunus


Muhammad Yunus, the Nobel Laureate from Bangladesh said that the secret of success of the Grameen bank in Bangladesh lies in the fact that it has been kept free from political interference and it continues to be a non –governmental enterprise .

Professor Yunus says when government starts lending money, people misuse the opportunity because vote seekers cannot be loan-givers. He was referring to the success story of Grameen Bank in Bangladesh as opposed to its failure in the neighboring Indian state of West Bengal.

The Mayor of Kolkata, however, criticized the way loan was collected from the poor in Bangladesh . Dr Yunus rebutted the allegations ans said that if anything was overdone to collect the borrowed money , such a large number of village women in Bangladesh would not have responded

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