Grameen Bank

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Grameen Bank

A bank in Bangladesh that pioneered modern microfinance. Grameen Bank makes very small loans to extremely impoverished persons to help them achieve self-employment so they are able to lift themselves out of poverty. Borrowers belong to five member groups; members encourage each other to repay the loan. Borrowers must agree to abide by 16 rules for social betterment. While critics contend that too many of Grameen's loans extract high interest rates, some are interest-free. Historically, Grameen has had very low default rates, though many borrowers pay late. It was founded in 1983 by Muhammad Yunus.
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The funds will be used for fundraising efforts to form a Grameen America branch in North Carolina, said John Lassiter, fundraising cochairperson for Grameen America North Carolina.
In a week since launching its drive against the Grameen Seva service across the Capital, the traffic police have prosecuted more than 1,300 vehicles for various offences.
Rajiv Jain, Managing Director of Digamber Capfin Limited, a fast-emerging MFI serving the poor throughout Rajasthan, said, "I'm confident that Grameen Foundation is delivering the next wave of technology for us to grow our outreach and impact to the poor.
Head Judge Luke Tipping said: "With Birmingham's rich balti heritage it was no surprise that Grameen Khana's curry was judged Birmingham's best: they produce a very authentic balti, with a great complexity of flavours - I can tell a lot of thought goes into it.
Additionally, it received 4 out of 4 stars for the comprehensive implementation, training and support provided by Grameen Foundation and its specialists in the various regions.
Loans from Grameen America have direct impact on the lives of the women and their families.
This experiment directly facilitated the formation of Grameen Bank, an institution that become instrumental in lifting people worldwide out of poverty, with the pioneering use of microcredit.
Gigi Gatti, Grameen Foundation's Regional Director, Asia, reported highlights from the program to an audience comprising of non-governmental organizations, civic society groups, fintech organizations, banking and finance representatives and government agencies.
Attended by various stakeholders and regulators in the financial-technology industry, Grameen Foundation reported that its track toward financial inclusion has been reaping substantial results for the benefit of both Filipino entrepreneurs and the underserved communities.
General Manager (Audit) Mahbubur Rahman of Grameen Bank and CEO Dr.
HDFC Bank launched the Grameen Mega Loan Mahotsava, as a part of its Board-approved mandate to help 10 million families (50 million individuals) become self-sufficient.