Grameen Bank model is need of hour for India: Dr Thingalaya

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Grameen Bank model is need of hour for India: Dr Thingalaya

Grameen Bank model is need of hour for India: Dr Thingalaya

Mar 25, 2016 02:49:47 PM (IST)

Mangaluru: Nitte Institute of Management in collaboration with the Social Business Academic Network-India Chapter organised a seminar on 'Social business in India-Opportunities and challenge', at Nitte Institute of Catering Studies and Hotel Administration campus, Pumpwell on March 25, Friday.

Grameen Bank model is need of hour for India: Dr Thingalaya-1In his inaugural address, Syndicate Bank former chairman and managing director Dr N K Thingalaya brought out a comparison between 'Grameen Bank' concept in Bangladesh and India and pointed that the concept of Grameen Bank underwent massive changes in India in a very short time.


Dr Thingalaya said that the Grameen Bank started by Dr Yunus in Bangladesh remained to have one national Grameen Bank with its branches spreading across the nation, but in India, the concept of Grameen Bank started by Reserve Bank of India former governor Dr Maidavolu Narasimham could not withstand the onslaught of the co-op banks and societies.


Asserting that Grameen bank was imperative for India and is the need of the hour, he said that the Grameen bank in Bangladesh charges 20 percent interest as against the 10 per cent charged by cooperative banks in India.


"The profits of Grameen banks in Bangladesh are utilised for the welfare of the society," he said opining that such model, if followed in India, could have given a massive impetus to alleviate poverty from Indian soil. He said that out of the 127crore population, there is credits of 14 crore, and over 4.91 cr are rural credit adding that the motto of social business is to earn profit and return it to the society.

Kanara Chamber of Commerce and Industry President Ram Mohan Pai,  Dr Yashwanth Dongre, Proffesor CS Shastry, M S Moodithaya and others were present.

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Grameen Bank model is need of hour for India: Dr Thingalaya
Grameen Bank model is need of hour for India: Dr Thingalaya
Grameen Bank model is need of hour for India: Dr Thingalaya
Grameen Bank model is need of hour for India: Dr Thingalaya
Grameen Bank model is need of hour for India: Dr Thingalaya
Grameen Bank model is need of hour for India: Dr Thingalaya
Grameen Bank model is need of hour for India: Dr Thingalaya
Grameen Bank model is need of hour for India: Dr Thingalaya





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