Correct option is B
· Muhammad Yunus is a Bangladeshi economist and social entrepreneur, widely recognized as the founder of modern microcredit.
· He is best known for founding Grameen Bank in 1983, which pioneered the concept of providing small, low-interest loans to the impoverished, particularly women, who lack access to traditional banking services.
· The goal was to enable them to start small businesses and improve their economic condition. His innovative approach to credit and poverty alleviation earned him the Nobel Peace Prize in 2006.
· Microcredit, as championed by Yunus, has since become a global model for reducing poverty and empowering marginalized communities. The success of the Grameen Bank led to the establishment of similar microfinance institutions around the world.
Additional Information:
- Grameen Bank was established with the aim of giving loans to those in poverty, especially women, to help them start small businesses, and thus, improve their livelihoods.
- Yunus’ work in microfinance has been revolutionary in providing financial services to the poor, breaking away from traditional banking methods that often excluded low-income groups.
- Yunus has also been involved in other development programs aimed at promoting social business and addressing societal challenges.
Other Options:
- Founder of Human Development: While Yunus contributed to human development, particularly through poverty alleviation, he is not known for founding the concept of human development.
- Founder of Mudra Loan:Mudra Loan is a scheme introduced by the Government of India in 2015 under the Pradhan Mantri Mudra Yojana (PMMY) to provide financial support to small and micro businesses. It is not directly related to Yunus.
- Founder of Kisan Credit: The Kisan Credit Card (KCC) scheme was introduced by the Government of India to provide credit to farmers, but it is not associated with Yunus.
