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“Micro credit all over the world, not just Bangladesh demonstrated that it is really workable, doable, sustainable and the repayment is excellent. There are many programmes within India and 100 percent repayment, not 99 but 100 percent repayment, and very good programmes. So we have to sift through which one is arm-twisting programme, which comes in very nicely supportive, that’s kind of draw the line between social business of micro-credit and profit maximization of micro credit,”Muhammad Yunus told a business seminar in New Delhi. Yunus and his creation Grameen Bank won the Nobel Peace Prize last year for leveraging small loans into major social change for impoverished

Micro-credit for the poor has been slow to pick up in India as banks are reluctant to lend due to fears of abuse and corruption, says Bangladesh’s Nobel Prize winning economist Muhammad Yunus.

He also blames “bad politics” for the present mess in Bangladesh which he says is a “liberal Muslim society” that will tide over its the current dalliance with fundamentalism.

“(In India) it hasn’t picked up in the manner it should. The banks are not sure about recovery. Moreover, there are apprehensions that such a facility will get entangled in abuse and corruption,” Yunus told IANS in an interview here.

He is in India to attend a two-day conference on the ideas and philosophy of Mahatma Gandhi. More than three months after bagging the Nobel Peace Prize, Yunus, known popularly as the “poor man’s banker”, has only one overarching dream: to create a world in which not a single human being is poor.

“When I got news of winning the Nobel Prize, I didn’t know how to react to it. First, there was complete disbelief. I thought maybe somebody was joking,” Yunus recalled that glorious and humbling moment when he was told he had won the coveted Nobel Peace Prize last year.

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