Book Review [11] : Banker to the Poor - Mohammad Yunus autobiography

"Banker to the poor" is the 2nd book that i read in past 7-8 days. It's an autobiography of 2006 Nobel peace prize winner and the founder of micro-credit based Grameen Bank, Mr. Mohammad Yunus. This book talks about one of the many methods that can eradicate poverty. His method of micro financing is quite effective in helping the poorest masses in raising their income and giving them a helping hand in eradicating the canker of poverty.

I really admire the tenacity and perseverance of Yunus saheb in establishing a world class institution without taking foreign aid (he did much later). Its not unjust to say that he has been truly a silent revolutionary. In this sub continent its a sin to be a poor and its the heinous crime to be a poor Muslim. The social status of Muslim women in our subcontinent is worst. No offence meant but its the truth. Any Muslim husband can divorce his wife by just saying Talaq three times. In this environment Yunus saheb succeeded in making poor women of Bangladesh the clients of his bank. In this process he broke almost all the retrogressive customs of Purdah and seclusion. Money is the solution of almost all the problems and Grameen has proved thus many a times.

I dont know what is the future of micro finance based system in India. As far as i know from my significant experience of the rural India (not talking about the Rahul Gandhi's definition of poor) that the condition of poor is not despicable. Its surely bad but can be improved. I dont condone the high interests rates demanded by Grameen bank. There should not be any difference in the interest rates collateral or no collateral.

Recommended (7/10)