Yunus is back!Posted: May 8, 2011
After a long turmoil in Microfinance world after the big scandal of Prof.Yunus’s struggle, he is now back in the danone.communities general meeting on 28th April in Paris. It was said to be the first time for him to go out of the country and have a presentation in front of the audience after that affair. Everyone was excited that he was there. (Especially Danone people were excited since their Guru was now released from the big threatening scandal.) He is the icon of microfinance, but from his real statements on that day, he didn’t look like being exhausted. He is more energized and clearly mentioned. Microfinance itself doesn’t have a wrong direction. This time, the engagement of politics made the things worse!!
He clearly criticized this time the politicians’ greed and their bad intention to utilize the power. He was furious, and he was energized and powerful. Yunus was raising his hand up in the air in front of the big 2000 audience, and said, “We protected the share of the poor!” He mentioned that the Grameen Bank was threaten to shift to be under the control of the Government, but he and his staffs in Grameen was fighting back to protect the bank. As his way of saying goes, the bank was owned by the shareholders, who is the mothers of the poors.
He is now coming out from the ashes, being more powerful than ever. As he predicted, the Indian government and Reserve Bank of India, the finance central authority, had enacted the guideline for microfinance submitted by the Malegam Committee for the country’s microfinance industry. >>http://www.microcapital.org/microcapital-brief-reserve-bank-of-india-rbi-enacts-most-of-microfinance-guidelines-proposed-by-malegam-committee/?utm_source=rss&utm_medium=rss&utm_campaign=microcapital-brief-reserve-bank-of-india-rbi-enacts-most-of-microfinance-guidelines-proposed-by-malegam-committee The confusion happened in India, caused by the double-debt affairs by borrowers in Andhra Pradesh, will affect the whole industry a big much damage, but gradually it is getting to be stabilized.
Now in Japan, after the Tsunami, the discussion started regarding the financial support for victims in Tohoku area. And in the discussion, the lessons learnt in India was also refrained. Loans to victims after the disaster and any re-start-up entrepreneurs in Tohoku area, should be carefully treated to avoid the multi-debt situation.