Paragraph Writing
GRAMEEN BANK
Bangladesh has a long history of micro-credit finance. There are several internationally acclaimed organisations of micro-credit, such as the Grameen Bank. This bank provides credit to the poor, particularly rural women. Professor Mohammad Yunus, who is the chairman of Grameen Bank established the same in 1983. A Grameen Bank project allows only the poor and landless people to take a loan from the bank. Before they can borrow the money, they have to make 5-6 groups of workers, each having five members. Then they have a centre where the bank works to give loans and receive repayment of loans. All the group members must be registered members of the Grameen Project. Each member of a group is given a registered number. There must be an elected Chairperson and an elected Secretary of the group. They hold office for a year. The members conduct their business with the bank through the Chairman. Grameen Bank, in addition to providing credit, emphasizes the need to develop skills and raise consciousness among the rural poor. Meanwhile, the living condition of a large number of programme participants has risen above the poverty line. Grameen Bank, therefore, has started a silent revolution among the women, and its impact is far-reaching
Model Answer-2
Grameen Bank, meaning "Rural" or "Village" Bank in Bengali, started in 1976 as a research project in the Jobra village of Bangladesh. Founded by Dr. Muhammad Yunus, it aimed to test a new method of providing banking services to the rural poor. By 1983, it was established as a full-fledged bank to help alleviate poverty through microcredit. Unlike traditional banks, Grameen Bank does not require collateral for loans. Instead, it takes its services directly to the doorsteps of its clients, mostly in rural areas. All banking activities, except loan disbursement, occur at local village meetings organized by center managers.
Grameen Bank has a strong focus on empowering women, with 98% of its borrowers being female. Many of these women have improved their lives significantly through the bank's support. As of June 2024, Grameen Bank operates in nearly every village in Bangladesh, with over 45 million people benefiting from its services. It has also been recognized globally for its success in poverty alleviation, winning the Nobel Peace Prize in 2006. The bank continues to support its members with education loans and entrepreneurship opportunities, and has successfully helped many beggars become self-sufficient through interest-free loans.
Model Answer-3
Grameen Bank, which means "Rural Bank" in Bengali, was founded in 1976 in Bangladesh by Dr. Muhammad Yunus. The bank began as a small research project in Jobra village, aiming to find a new way to provide banking services to poor people in rural areas. By 1983, this project became a full bank with the goal of reducing poverty through microcredit, which means giving small loans to people who do not have access to traditional banking services. One of the unique features of Grameen Bank is that it does not require any collateral, or security, for its loans. This is different from most banks, which usually require something valuable to ensure the loan will be paid back. Instead of having clients visit bank branches, Grameen Bank takes its services directly to people in their villages. This approach helps make banking more accessible and less intimidating for those who live in remote areas. Grameen Bank also focuses on empowering women, with 98% of its borrowers being female. Many of these women have used the loans to improve their lives and escape poverty. As of June 2024, Grameen Bank operates in nearly 82,000 villages in Bangladesh, with about 45 million people benefiting from its services. The bank has achieved a high loan recovery rate of 96.29%, which is better than most other banks. Grameen Bank has also received global recognition for its work, including the Nobel Peace Prize in 2006, for its successful approach to poverty reduction. The bank continues to help its members with various programs, including education loans and support for new businesses. It also assists beggars in becoming self-sufficient through interest-free loans. Grameen Bank’s approach has proven to be an effective model for improving lives and reducing poverty in many parts of the world.
Composition / Essay Writing
GRAMEEN BANK
An efficient banking system, although important for economic growth, is often unable or unwilling to lend money to the poorer section of society. Hence the need for micro-finance institutions is felt. Bangladesh has a long history of micro-credit finance, with internationally acclaimed organisations such as the Grameen Bank. This bank provides credit to the poor, particularly rural women. Professor Mohammad Yunus, who is the Chairman of Grameen Bank established the same in 1983. Professor Yunus proved that man’s potential power is quite terrific.
Though Professor Yunus is an inhabitant of the third world, he has always dreamt to eliminate the poverty of the world. He is not a billionaire, but his strong-will was unparallel. At last he became successful to establish the Grameen bank and set an example to eliminate poverty from the root level by using planned micro-credit. While he was working as a professor of Economics at Chittagong University, it occurred to him that poor people could be brought out of poverty, if they were given a small loan to a few poor women from his own pocket. He also set a date for the return of the loan with interest. Surprisingly enough, all those who accepted his loans were able to pay him back the money which they invested in making cane and wicker chairs, and made profit by selling them. Thus Dr. Yunus became convinced that small loan or micro-credit system could be started. This philosophy of Dr. Yunus has brought about a real change in women’s attitude towards life. With their financial independence, their self-confidence has increased and they now want to live according to their own plans.
A Grameen Bank project allows only the poor and landless people to take a loan from the bank. Before they can borrow the money, they have to make 5-6 groups of workers, each having five members. Then they have a centre where the bank works to give loans and receive repayment of loans. All the group members must be registered members of the Grameen Bank Project. Each member of a group is given a registered number. There must be an elected Chairperson and an elected Secretary of the group. They hold office for a year. The members conduct their business with the bank through the Chairman. The group Chairperson is responsible for maintaining discipline in the group.
Gsrameen Bank, in addition to providing credit, emphasizes the need to develop skills and raise consciousness among the rural poor. Consumption by about 5 percent of programme participants increased to the point that their households rose above the poverty line. Grameen Bank, therefore, has started a silent revolution among the women, and the impact is far-reaching.
GRAMEEN BANK
Bangladesh is a country of villages. 85% people of the country live in villages and most of them are landless peasants. Grameen Bank is a new and noble step in the banking system for giving micro-credit to the innumerable landless peasants of Bangladesh. The concept of Grameen bank is the brain-child of Dr. Muhammad Yunus, a professor of Economics at Chittagong University. He is the founder and Managing Director of Grameen Bank. The bank has been working as a self-governed money investing institution throughout the country.
Dr. Yunus was moved by the poverty of innumerable landless people who were oppressed for long years by the mighty, the tenure holders, the money lenders and usurers of villages.
At first Dr. Muhammad Yufius began research work about poverty alleviation. The auspicious starting set out through Grameen Bank project in 1976. The project first started providing micro-credit in Jobra village in Chittagong. In 1978 it turned to an organised form. Then he opened a bank in Jobra village with the co-operation of Krishi Bank. The experience from the bank inspired him to open another branch at Tangail district in 1979. Success in these primary steps led the government to declare Grameen Bank Ordinance in 1983. Since then it has attained the dignity of a self-governed bank in the country.
Grameen Bank is quite different from other traditional banks of the country. It deals with the landless peasants only. It does not take any security from the loan receivers. The receivers need not come to the bank but the bank officials go to them. The service holders of the bank must stay in rural areas. The bank prefers capital generating loans than giving loan in cash. Before borrowing money the members
have to make at least one group of workers having five members who work jointly in taking and paying loans. Two or three thousand taka is given to each member to invest in profitable small jobs like cane and bamboo work, boat making, shopping, food processing, rickshaw pulling, cultivating and so on.
The borrowers have to pay a small interest to the bank and have to follow certain rules and procedures of the bank. Every member has a savings account and when he/she receives loan 5% of it is to be deposited in their account.
Grameen Bank has been able to send loans to the really landless peasants. It is not only conscious of giving and receiving loans, it keeps eyes to their social and organisational aspects also. Its activities are expanding rapidly and more than half of the villages of our country have come under its working plans
GRAMEEN BANK
Grameen Bank, founded by Dr. Muhammad Yunus, began with a small yet impactful idea. In 1974, during a severe famine in Bangladesh, Yunus made a personal loan of just $27 to 42 families. This money helped them start small businesses without the burden of high interest. Yunus realized that if more people could receive such loans, it could stimulate local businesses and reduce poverty in rural areas. Inspired by this success, he decided to develop a larger project.
In 1976, Yunus started a research project in the village of Jobra in Bangladesh’s Chattogram district. This project aimed to test a new method of providing credit and banking services to poor people who were traditionally excluded from mainstream banking. By 1983, the project evolved into Grameen Bank, officially established to combat poverty and empower the rural poor through microcredit.
One of the key features of Grameen Bank is that it does not require collateral for its loans. Unlike regular banks, which often intimidate poor people with their formal branches, Grameen Bank brings banking services directly to the villagers. Banking transactions, except for loan disbursement, are conducted during village meetings organized by center managers. This approach has encouraged many women and disadvantaged community members to participate. Notably, 98% of Grameen Bank’s borrowers are women, and many have improved their lives significantly.
By June 2024, Grameen Bank had expanded to 40 zonal offices, 40 zonal audit offices, 240 area offices, and 2,568 branch offices, employing nearly 23,000 people. The bank serves almost 45 million people across 81,678 villages in Bangladesh. Its microcredit model has inspired similar programs worldwide. In 2006, Grameen Bank was awarded the Nobel Peace Prize for its efforts in creating economic and social development through microcredit.
Grameen Bank continues to support its members with education loans, entrepreneurship funding, and scholarships. It also runs a special program to help beggars become self-sufficient through interest-free loans. As of June 2024, Grameen Bank has distributed over $38 billion in loans, with a recovery rate of 96.29%. This success demonstrates the effectiveness of its approach and its significant role in improving lives and contributing to Bangladesh’s development.
Translation in Bangla
গ্রামীণ ব্যাংক গ্রামীণ ব্যাংক প্রতিষ্ঠা করেন ড. মুহাম্মদ ইউনূস, একটি ছোট কিন্তু প্রভাবশালী ধারণা দিয়ে শুরু করেছিলেন। 1974 সালে, বাংলাদেশে ভয়াবহ দুর্ভিক্ষের সময়, ইউনূস 42 পরিবারকে মাত্র 27 ডলার ব্যক্তিগত ঋণ দিয়েছিলেন। এই অর্থ তাদের উচ্চ সুদের বোঝা ছাড়াই ছোট ব্যবসা শুরু করতে সহায়তা করেছিল। ইউনূস বুঝতে পেরেছিলেন যে যদি আরও বেশি লোক এই ধরনের ঋণ গ্রহণ করতে পারে, তাহলে এটি স্থানীয় ব্যবসাকে উদ্দীপিত করতে পারে এবং গ্রামীণ এলাকায় দারিদ্র্য হ্রাস করতে পারে। এই সাফল্যে অনুপ্রাণিত হয়ে তিনি আরও বড় প্রকল্প তৈরি করার সিদ্ধান্ত নেন। 1976 সালে, ইউনূস বাংলাদেশের চট্টগ্রাম জেলার জোবরা গ্রামে একটি গবেষণা প্রকল্প শুরু করেন। এই প্রকল্পের লক্ষ্য ছিল গরিব লোকদের ক্রেডিট এবং ব্যাংকিং পরিষেবা প্রদানের একটি নতুন পদ্ধতি পরীক্ষা করা যারা ঐতিহ্যগতভাবে মূলধারার ব্যাঙ্কিং থেকে বাদ পড়েছিল। 1983 সাল নাগাদ, প্রকল্পটি গ্রামীণ ব্যাংকে রূপান্তরিত হয়, দারিদ্র্য মোকাবেলা এবং ক্ষুদ্রঋণের মাধ্যমে গ্রামীণ দরিদ্রদের ক্ষমতায়নের জন্য আনুষ্ঠানিকভাবে প্রতিষ্ঠিত হয়। গ্রামীণ ব্যাংকের অন্যতম প্রধান বৈশিষ্ট্য হল এর ঋণের জন্য জামানতের প্রয়োজন হয় না। নিয়মিত ব্যাঙ্কগুলির বিপরীতে, যেগুলি প্রায়ই দরিদ্র লোকদেরকে তাদের আনুষ্ঠানিক শাখা দিয়ে ভয় দেখায়, গ্রামীণ ব্যাঙ্ক সরাসরি গ্রামবাসীদের কাছে ব্যাঙ্কিং পরিষেবা নিয়ে আসে। ব্যাংকিং লেনদেন, ঋণ বিতরণ ব্যতীত, কেন্দ্র ব্যবস্থাপকদের দ্বারা আয়োজিত গ্রাম সভায় পরিচালিত হয়। এই পন্থা অনেক নারী এবং সুবিধাবঞ্চিত সম্প্রদায়ের সদস্যদের অংশগ্রহণে উৎসাহিত করেছে। উল্লেখযোগ্যভাবে, গ্রামীণ ব্যাংকের 98% ঋণগ্রহীতা নারী, এবং অনেকেই তাদের জীবনকে উল্লেখযোগ্যভাবে উন্নত করেছেন। জুন 2024 সাল নাগাদ, গ্রামীণ ব্যাংক 40টি জোনাল অফিস, 40টি জোনাল অডিট অফিস, 240টি এরিয়া অফিস এবং 2,568টি শাখা অফিসে বিস্তৃত হয়েছে, যেখানে প্রায় 23,000 জন লোক নিয়োগ করেছে। ব্যাংকটি বাংলাদেশের 81,678টি গ্রামে প্রায় 45 মিলিয়ন মানুষকে সেবা দেয়। এর ক্ষুদ্রঋণ মডেল বিশ্বব্যাপী অনুরূপ প্রোগ্রামগুলিকে অনুপ্রাণিত করেছে। 2006 সালে, গ্রামীণ ব্যাংক ক্ষুদ্রঋণের মাধ্যমে অর্থনৈতিক ও সামাজিক উন্নয়নের প্রচেষ্টার জন্য নোবেল শান্তি পুরস্কারে ভূষিত হয়। গ্রামীণ ব্যাংক তার সদস্যদের শিক্ষা ঋণ, উদ্যোক্তা তহবিল এবং বৃত্তি দিয়ে সহায়তা করে যাচ্ছে। সুদমুক্ত ঋণের মাধ্যমে ভিক্ষুকদের স্বাবলম্বী হতে সাহায্য করার জন্য এটি একটি বিশেষ কর্মসূচিও চালায়। জুন 2024 পর্যন্ত, গ্রামীণ ব্যাংক 96.29% পুনরুদ্ধারের হার সহ $38 বিলিয়ন ঋণ বিতরণ করেছে। এই সাফল্য তার পদ্ধতির কার্যকারিতা এবং জীবনযাত্রার উন্নতিতে এবং বাংলাদেশের উন্নয়নে অবদান রাখার ক্ষেত্রে এর উল্লেখযোগ্য ভূমিকার প্রমাণ দেয়।
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