BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Gramin Bank of Bangladesh
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CRY
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ASHA
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NABARD
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Detailed explanation-1: -The instrument is microcredit : small long-term loans on easy terms. When Grameen Bank was awarded the Peace Prize in 2006, more than seven million borrowers had been granted such loans.
Detailed explanation-2: -Grameen Bank, Bangladeshi bank founded by economist Muhammad Yunus as a means of providing small loans to poor individuals (see microcredit). In 2006 Grameen and Yunus were awarded the Nobel Prize for Peace.
Detailed explanation-3: -Grameen Bank (Bengali: ) is a microfinance organisation and community development bank founded in Bangladesh. It makes small loans (known as microcredit or “grameencredit") to the impoverished without requiring collateral.
Detailed explanation-4: -The Grameen Bank model works as follows: A bank is set up in a village with a field officer and some qualified bank workers. It will support 15 to 20 villages-the field officer will already have researched these villages as prospective clientele. Groups of five people are created.
Detailed explanation-5: -Strikingly, the poor borrowers of the bank, most of whom are women, own the Grameen Bank. Of the total equity of the bank, the borrowers own 94 percent, and the Government of Bangladesh owns the remaining 6 percent.