Karnataka - Bangalore   

‘Much more than a bank’

BANGALORE: Nobel Prize winner Muhammad Yunus said at the launch of the Hrudaya Suraksha Scheme here on Monday that the Grameen Bank, which he founded in 1983, was much more than a bank. Among the many other achievements were the institution’s use of its status to take on social issues such as dowry and ensure property rights for women. The bank ensured that only the womenfolk would be advanced the loan, provided the land was also in their names.

The bank advised women borrowers to convince their husbands to agree to transfer titles in favour of their wives.

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