Design a banking system that would benefit poorer section of society: Yunus

Eminent economist and Nobel Laureate, Muhammad Yunus today asked management students to design a banking system that would benefit all particularly the poorer section of the society.
Taking part in an interactive session at XLRI - Xavier School of Management (XLRI) here, Yunus said such a system was required to address poverty.
The seed of poverty prevailed in the system and we have to break it by reversing the system, he said while asking the future managers to build a road to reach the destination.
The banks are for rich people as it remained for the privileged class, he said adding that more than half of the world population has nothing to do with the banking and it was not only in Bangladesh but globally.

Bank does not exist for them (poorer class) but privileged class, he said.
Highlighting the difficulties at every step he worked for the welfare of the poor class in his country, Yunus talked about businesses as a medium for solving problems and reducing the disparity between the various economic sections of the society.

He went on to talk about the problems encountered in his crusade against loan-sharks and his commitment to serve the destitute who lacked access to basic financial services.
Yunus illustrated the progress that societies can make through entrepreneurship by citing various examples from different parts of the world.

He also highlighted the difference between helping through charity and helping through businesses which make money and ensure sustainable progress of the downtrodden sections of the society and advocated the latter.
The founder of Gramin Bank said, "Create businesses to solve problems, not to generate money. The problem is not in the paper, but in the thinking. One does not have to change the world, just one person to begin with."
Yunus was awarded the Nobel Peace Prize in 2006 for founding the Gramin Bank and pioneering the concepts of micro-credit and micro-finance.