Here is the coverage of recent visit by Nobel Laureate Professor Yunus to India

JLF 2018 sidelights: Of Nawazuddin Siddiqui's Manto, Rasogolla wars and more

Star struck at JLF. Nobel laureate Muhammad Yunus during his session titled The Three Zeroes. ... Muhammad Yunus, whose The Three Zeroes is just out, was spotted on the first day at the press terrace, that insufferable space where the world's media persons seem to meet once a year. Tabla maestro ..

Confluence of ideas

While Vishal Bhardwaj launched India's Heritage of Gharana Music: Pandits of Gwalior by Meeta Pandit, there was the Nobel laureate Muhammad Yunus who caught the attention of one and all when he discussed the three zeros: zero poverty, zero unemployment and zero net carbon emissions in The

Muhammad Yunus at JLF 2018: Poverty in the world is a solvable problem

Dr Muhammad Yunus is also trained economist, founder of the Gramin Bank, a Nobel laureate and the man who believes that poverty is a solvable problem. In a session about his new book, A World of Three Zeroes: the new economics of zero poverty, zero unemployment, and zero carbon emissions, ...

ZEE Jaipur Literature Festival 2018: Pico Iyer, tabla maestro Zakir Hussain, Noble laureate ...

ZEE Jaipur Literature Festival 2018: Pico Iyer, tabla maestro Zakir Hussain, Noble laureate Muhammad Yunus take centerstage ... Then there was the Nobel laureate, Muhammad Yunus, who caught the attention of everyone when he discussed the three zeros: zero poverty, zero unemployment and zero ..

Nobel laureate Muhammad Yunus interview: 'Human beings are born as entrepreneurs, not as job ...

We call it the social business, one that I have been doing all my life. Now it is a global phenomenon, being done in many countries including in India. In India there is a group of industries, corporate bodies that got together to create social business along with their conventional business. Tata companies ..

'More entrepreneurs required to make society equitable'

Nobel prize winning economist Muhammad Yunus, author of recently published 'A World of Three Zeros', said people remain poor not because of ... But when I create a business to solve the problem, which I call social business, the money comes back which can be used again and again and it becomes ..

Zee Jaipur Literature Fest: Nobel Laureate Muhammad Yunus Says Artificial Intelligence is a ...

Jaipur, Jan 25: Nobel laureate and micro-finance pioneer Muhammad Yunus on Thursday criticised artificial intelligence, saying that it is a greed-based technology. Speaking at the Zee Jaipur Literature Festival, he said there should be a social gatekeeper for technology.He called artificial intelligence a ..

A Celebration of Diversity: ZEE Jaipur Literature Festival 2018: set to bring a literary feast

... Padma Bhushan awardee writer and art historian B. N. Goswamy, former President of Afghanistan Hamid Karzai, Nobel Laureate Professor Muhammad Yunus, internet sensation and performance poet Rupi Kaur, cult young adult writer Anthony Horowitz, Sahitya Akademi awardee Hindi writer Mridula ..

Nobel laureate Muhammad Yunus says financial system fundamentally wrong

Yunus, who inspired the model of social business in Bangladesh, said the seed of selfishness is sown within the theory of the economic system that is followed and urged people to also work or do business for the benefit of society and its people, besides looking for their own profitability. "The seed of ...

Students Tackle World Challenges Through Social Innovation & Policy Pathway

For the Gumball Challenge, the number 27 is significant because the students are emulating the work of famous social entrepreneur Muhammad Yunus, who discovered he could help Bangladesh women living in a nearby village pull themselves out of poverty through loans totaling just $27

Nobel laureate on highs & lows of life

Victoria Memorial: Muhammad Yunus, the poor man's banker from Bangladesh, rolled out the recipe for super- happiness on Monday. ... economist and civil society leader, who was awarded the Nobel Peace Prize for founding Grameen Bank and pioneering the concepts of microcredit and microfinance.

Machines with AI will outsmart humans in 25-30 years: Muhammad Yunus

Nobel laureate and microfinance pioneer Muhammad Yunus has expressed concern over the rapid evolution of artificial intelligence (AI) and said ... on the development and research on this technology, which is primarily driven by greed," Yunus, the founder of Grameen Bank in Bangladesh, said

By 2050, machine learning and AI will outsmart humans: Nobel laureate Muhammad Yunus

KOLKATA: Nobel laureate and microfinance pioneer Muhammad Yunus has expressed concern over the rapid evolution of artificial intelligence (AI) and said machines may outrun humans in terms of efficiency and usefulness in the next 25-30 years. AI robots will able to develop on their own without ..

Nobel laureate Muhammad Yunus says financial system fundamentally wrong

KOLKATA: Nobel laureate and micro-finance founder Muhammad Yunus on Tuesday said the existing financial and banking systems in the world have fundamental flaws as they direct people to work only for their own benefit, not caring about society. "I think the existing banking structure is ..

Nobel laureate Muhammad Yunus says there should be banks to serve the poor

KOLKATA: Nobel laureate and micro-finance founder Muhammad Yunus on Monday termed the existing banking model as "banks for the rich" and suggested there should be banks for the poor to boost the economic status of people. "... The banks that exist today, how do you describe them? If our model .

Tata Steel Kolkata Literary Meet 2018: Create own leadership, Muhammad Yunus tells youngsters

Muhammad Yunus at the session on his new book, A World of Three Zeros, at the Tata Steel Kolkata Literary Meet 2018 said that the young generation need not follow somebody from the previous generation, be it the US, India or Bangladesh. The 77-year-old founder of the Grameen Bank in .

Here's A Gem Of An Idea That Can Change The Wealth Pyramid Into A Wealth Diamond

My faith in the possibility of having very few at the top, and very few at the bottom, is as strong as ever.

03/04/2017 1:27 PM AEST

Professor Muhammad Yunus
Nobel Peace Prize Laureate and Founder of Grameen Bank

winkelair via Getty Images
"Rapid concentration of wealth poses serious threats to political and social stability."

We are going through an unprecedented time around the world -- a deep sense of injustice is creating havoc through challenging established political and social cohesion and even stability. There is a tendency to see the current volatility as a mere development of populism, but the problem is grounded in generations of a flawed economic system.

We should overcome our obsession of looking for a quick solution. While keeping the faulty economic system unchanged, we cannot achieve meaningful stability. Rapid concentration of wealth also poses serious threats to political and social stability.

As the economy grows, the concentration of private wealth gets worse. The faster the rate of growth, the faster the rate of concentration of wealth. This disaster is dangerous because it destroys peace and harmony. It threatens human rights and democracy. It pushes the world towards social explosions, each worse than the previous one. It triggers armed conflicts among nations.

According to Oxfam, the eight richest people own more wealth than is owned by bottom half of the world population. According to their reports, in 2015 the 80 richest people, and in 2014 the 85 richest people owned more wealth than was owned by the bottom half of world population. In 2010, six years ago, it was the 388 richest people who had the pleasure of owning similar wealth.

They also told us that the wealth of the 80 richest people doubled in five years, between 2009 and 2014. This simply is not economically sustainable. How we can hope for stability if this trend continues?

Is the trend irreversible?

No, I do not believe that. My faith in the possibility of transforming a wealth-pyramid gradually into a new shape, a wealth-diamond -- very few at the top, and very few at the bottom, the bulk of the people in the middle, is as strong as ever.

First of all it is not an unalterable fate that mankind was born with. Since it is our own creation, we can solve it through our own efforts. Our efforts should be directed to unblock our minds.

The usual political agenda to reduce the problem focuses on the income-gap, not on the wealth-gap. It is done through a program of income redistribution, though I don't think addressing income inequality is a real answer. We will have to address the cause, not the manifestation of it. If we keep the wealth base unchanged, any reduction in the income gap will be ineffective.

Working with the poor has led me to realize many other problems of the poor. I tried to address some of them. I always tried to solve each problem by creating a new business. Over time it became a habit with me. They gradually started displaying some common features. They are created as sustainable businesses, but no one is allowed to take any personal profit out of it. Investors get back the investment money, nothing more. The company's profit is ploughed back into the company for improvement and expansion.

I called this new type of business a Social Business, defined as a non-dividend company to solve human problems. I was amazed how easy it was to solve human problems if we designed it as a business with the sole mission of solving a problem, and with no intention to benefit personally from the business.

A successful story of a social business is that of Grameen Danone Foods Ltd. Grameen and Group Danone went into a joint venture to create a yogurt fortified with micro-nutrients to decrease malnutrition for the children of Bangladesh.

The yogurt is produced with solar and bio gas energy and is served in environmentally friendly packaging. The first plant started production in late 2006. The long-term plan is to establish 50+ plants, create several hundred distribution jobs and self-degradable packaging.

Both joint venture partners have by agreement stated that they will not take any dividends out of the company. Their sole aim is the social objective of reducing malnutrition.


Professor Yunus will be on the panel of Q&A this evening, and will be speaking at the Australasian Social Business Forum in Melbourne on April 6, 2017.



Nobel Laureate Yunus Opens Ujjivan Bank’s First 5 Branches in Bangalore

Published ON: MF Monitor
Date:  February 7, 2017   

Shifting its business focus from microfinance to core banking, Bangalore-based Ujjivan Financial Services opened on Monday, Feb. 6, 2017, five branches in Bangalore with Bangladeshi Nobel Laureate Muhammad Yunus as the chief guest.

One significant feature that Ujjivan Bank will offer is to let its customers unlimited access to ATM transactions on its network and six free transactions on other bank’s ATM networks, making it one of the highest free transactions offered by any bank.

Ujjivan issued an IPO which was overwhelmingly subscribed in August last year and in November the RBI had given a license to set up the small finance bank. Ujjivan plans to open banking services along side its microfinance services and hopes to open as many branches in 24 states across India.

Human beings were not meant to be job-seekers: Muhammad Yunus

Published on: The Hindu

Date: February 07, 2017


Staff Reporter, Bengaluru: February 07, 2017 00:00 IST

Human beings were meant to be entrepreneurs and not job seekers, says Nobel Laureate and Grameen Bank founder Muhammad Yunus. He was in the city to speak on ‘The zero effects of social business’ at the Indian Institute of of Science on Monday. He said countries like India and Bangladesh need a business system with a goal to solve humanity's problems, not profit-making.

According to Prof. Yunus, who pioneered micro-credit in Bangladesh, getting degrees to get jobs is the wrong way to come out of poverty. "When youths come to me saying they need jobs, I urge them to generate jobs. Human beings were never intended to be job seekers, but to use their creativity to find solutions to problems," he said.

Ujjivan Small Finance Bank to commence banking on February 6

Published on:

Date:  Feb 05, 2017

By Atmadip Ray, ET Bureau

KOLKATA: The UK's CDC Group-backed Ujjivan Small Finance Bank is going to open its first set of branches for public transaction on Monday and start rolling out branch network across India from next fiscal.

Ujjivan Managing Director Samit Ghosh said that the bank will test all the technical and connectivity issues over the next one month as a preparation before going full throttle.

Reserve Bank of India had issued a press statement on February 1 saying the bank commenced operation on that day. Ghosh has clarified to ET that the bank is operationally ready since February 1 but customer transaction will commence only on February 6. tellyseries