Question: Write a paragraph about ‘The Grameen Bank’ by answering the questions below.
- What is the type of the Grameen Bank?
- What is the purpose of the Grameen Bank?
- How does the Grameen Bank serve the rural people?
- Who are the main beneficiaries of the Grameen Bank?
- How does the Grameen Bank provide loans to the rural people?
Answer: The Grameen Bank is a special type of bank which provides loans to the poor people of the rural areas especially to the women folk of the village. The purpose of the Grameen Bank is to alleviate poverty of the rural women and to make them financially self-reliant. Dr Muhammad Yunus first thought for the landless people and especially for the poor women. Then he established a bank to provide loans to the women of villages and this bank is known as the Grameen Bank. It has extended its services to almost all the villages. The poor, landless, and helpless women are eligible for getting loans from this bank. But before getting the loan they have to form five or six groups of workers consisting of five members in each group. Then they are to set up a centre from where the bank will provide loans and receive the repayment of loans. All the members of the groups have to get registration from the bank. Each group has to select a chairperson and a secretary. Their position will continue for only a year. The chairperson will maintain discipline in her group and she will make all the members aware of the rules and procedures of the bank. The Grameen Bank provides loans to run small businesses, rear goats, cows, poultry, cultivation of vegetables and nursery, etc. The Grameen Bank has thus achieved remarkable success in alleviating poverty of the poor women and in making them self-reliant.