Grameen means pertaining to the villagers or rural areas. So Grameen Bank is the financial institution that works for the poor rural people in Bangladesh. This conception was introduced by Dr. Muhammad Yonus, Professor of Economics at Chittagong University in Bangladesh. He understood that the country could never proper without improving the lot of the rural people who form the vast majority of our population. So he came up with the idea of micro-credit & established. Grameen Bank only the poor & landless people are eligible for getting loans from the Bank. There are some procedures of getting the loan. Before getting the loan, people have to make 5-6 groups of workers each having 5 members. The members should be disciplined. Basically the group Chairperson is responsible for disciplinary activities. The borrows are given advice to make the best use of money. People can repay the interest & the borrowed money from their profits. The bank has brought a revolutionary change ...
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