Muhammed Yunus, founder of Grameen Bank, says banks have been reluctant to help the poor people and as such they have been forced to borrow money from moneylenders. The Nobel laureate said the tendency among most of the banks has been to take a pro-rich attitude and a large number of people are left out of the ambit of banking. And moneylenders thrive on this. He felt the solution could be allowing NGOs that were into microfinance initiatives to take up banking and such entities should be given banking licenses so that they can use their earnings for the social cause. Yunus also said corporates should actually involve themselves in social initiatives and not just give away funds to NGOs under their CSR activities.
