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The Grameen Bank, founded in Bangladesh by Nobel Peace Prize Laureate, Dr. Muhammad Yunus, who is also credited for giving life to the concept of microcredit/microfinance, is one of the most popular models of social business, a business that operates primarily for addressing social needs and not for-profit. Based on the concept of microfinance, Grameen provides microloans, small loans, to the poor and those living beyond the reach of traditional finance, in order to promote income generating activities, avoiding the more traditional form of poverty alleviation - aid donations. The original focus of the Grameen Bank was on rural people with no credit history and no collateral. However, the bank rapidly expanded, giving the illusion of a win-win situation that yielded both profits for Grameen Bank and huge improvements in development for Bangladesh. Private, for-profit organizations around the world wrongly judged the situation, thinking that they could first and foremost profit from this type of venture while developing the country in the process. This view was indeed tainted since Grameen’s goal was development and any profits were an added bonus. Because of these wrong expectations, the Grameen model has achieved limited success in countries other than those in South-East Asia, though the concept of microfinance has had better luck, with many countries now running profitable microfinance institutions that typically charge considerably higher interest rates for zero collateral loans than Grameen ever would.According to the passage, which one of the following statements is true?a)When Grameen started functioning, there were fewer people in the urban areas of Bangladesh who applied for a loan from it than there were when it became more successfulb)There is a limited scope of Grameen ’s success in countries outside South East Asia.c)Microfinance as a concept is more successful for for-profit oriented microfinance institutions than for Grameen.d)Granting a sum of money as charity to the poor is not a part of Grameen’s operations.e)Institutions offering traditional loans charge much higher interest rates than Grameen does.Correct answer is option 'D'. Can you explain this answer? for GMAT 2024 is part of GMAT preparation. The Question and answers have been prepared according to the GMAT exam syllabus. Information about The Grameen Bank, founded in Bangladesh by Nobel Peace Prize Laureate, Dr. Muhammad Yunus, who is also credited for giving life to the concept of microcredit/microfinance, is one of the most popular models of social business, a business that operates primarily for addressing social needs and not for-profit. Based on the concept of microfinance, Grameen provides microloans, small loans, to the poor and those living beyond the reach of traditional finance, in order to promote income generating activities, avoiding the more traditional form of poverty alleviation - aid donations. The original focus of the Grameen Bank was on rural people with no credit history and no collateral. However, the bank rapidly expanded, giving the illusion of a win-win situation that yielded both profits for Grameen Bank and huge improvements in development for Bangladesh. Private, for-profit organizations around the world wrongly judged the situation, thinking that they could first and foremost profit from this type of venture while developing the country in the process. This view was indeed tainted since Grameen’s goal was development and any profits were an added bonus. Because of these wrong expectations, the Grameen model has achieved limited success in countries other than those in South-East Asia, though the concept of microfinance has had better luck, with many countries now running profitable microfinance institutions that typically charge considerably higher interest rates for zero collateral loans than Grameen ever would.According to the passage, which one of the following statements is true?a)When Grameen started functioning, there were fewer people in the urban areas of Bangladesh who applied for a loan from it than there were when it became more successfulb)There is a limited scope of Grameen ’s success in countries outside South East Asia.c)Microfinance as a concept is more successful for for-profit oriented microfinance institutions than for Grameen.d)Granting a sum of money as charity to the poor is not a part of Grameen’s operations.e)Institutions offering traditional loans charge much higher interest rates than Grameen does.Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for GMAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The Grameen Bank, founded in Bangladesh by Nobel Peace Prize Laureate, Dr. Muhammad Yunus, who is also credited for giving life to the concept of microcredit/microfinance, is one of the most popular models of social business, a business that operates primarily for addressing social needs and not for-profit. Based on the concept of microfinance, Grameen provides microloans, small loans, to the poor and those living beyond the reach of traditional finance, in order to promote income generating activities, avoiding the more traditional form of poverty alleviation - aid donations. The original focus of the Grameen Bank was on rural people with no credit history and no collateral. However, the bank rapidly expanded, giving the illusion of a win-win situation that yielded both profits for Grameen Bank and huge improvements in development for Bangladesh. Private, for-profit organizations around the world wrongly judged the situation, thinking that they could first and foremost profit from this type of venture while developing the country in the process. This view was indeed tainted since Grameen’s goal was development and any profits were an added bonus. Because of these wrong expectations, the Grameen model has achieved limited success in countries other than those in South-East Asia, though the concept of microfinance has had better luck, with many countries now running profitable microfinance institutions that typically charge considerably higher interest rates for zero collateral loans than Grameen ever would.According to the passage, which one of the following statements is true?a)When Grameen started functioning, there were fewer people in the urban areas of Bangladesh who applied for a loan from it than there were when it became more successfulb)There is a limited scope of Grameen ’s success in countries outside South East Asia.c)Microfinance as a concept is more successful for for-profit oriented microfinance institutions than for Grameen.d)Granting a sum of money as charity to the poor is not a part of Grameen’s operations.e)Institutions offering traditional loans charge much higher interest rates than Grameen does.Correct answer is option 'D'. 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Solutions for The Grameen Bank, founded in Bangladesh by Nobel Peace Prize Laureate, Dr. Muhammad Yunus, who is also credited for giving life to the concept of microcredit/microfinance, is one of the most popular models of social business, a business that operates primarily for addressing social needs and not for-profit. Based on the concept of microfinance, Grameen provides microloans, small loans, to the poor and those living beyond the reach of traditional finance, in order to promote income generating activities, avoiding the more traditional form of poverty alleviation - aid donations. The original focus of the Grameen Bank was on rural people with no credit history and no collateral. However, the bank rapidly expanded, giving the illusion of a win-win situation that yielded both profits for Grameen Bank and huge improvements in development for Bangladesh. Private, for-profit organizations around the world wrongly judged the situation, thinking that they could first and foremost profit from this type of venture while developing the country in the process. This view was indeed tainted since Grameen’s goal was development and any profits were an added bonus. Because of these wrong expectations, the Grameen model has achieved limited success in countries other than those in South-East Asia, though the concept of microfinance has had better luck, with many countries now running profitable microfinance institutions that typically charge considerably higher interest rates for zero collateral loans than Grameen ever would.According to the passage, which one of the following statements is true?a)When Grameen started functioning, there were fewer people in the urban areas of Bangladesh who applied for a loan from it than there were when it became more successfulb)There is a limited scope of Grameen ’s success in countries outside South East Asia.c)Microfinance as a concept is more successful for for-profit oriented microfinance institutions than for Grameen.d)Granting a sum of money as charity to the poor is not a part of Grameen’s operations.e)Institutions offering traditional loans charge much higher interest rates than Grameen does.Correct answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for GMAT. Download more important topics, notes, lectures and mock test series for GMAT Exam by signing up for free.

Here you can find the meaning of The Grameen Bank, founded in Bangladesh by Nobel Peace Prize Laureate, Dr. Muhammad Yunus, who is also credited for giving life to the concept of microcredit/microfinance, is one of the most popular models of social business, a business that operates primarily for addressing social needs and not for-profit. Based on the concept of microfinance, Grameen provides microloans, small loans, to the poor and those living beyond the reach of traditional finance, in order to promote income generating activities, avoiding the more traditional form of poverty alleviation - aid donations. The original focus of the Grameen Bank was on rural people with no credit history and no collateral. However, the bank rapidly expanded, giving the illusion of a win-win situation that yielded both profits for Grameen Bank and huge improvements in development for Bangladesh. Private, for-profit organizations around the world wrongly judged the situation, thinking that they could first and foremost profit from this type of venture while developing the country in the process. This view was indeed tainted since Grameen’s goal was development and any profits were an added bonus. Because of these wrong expectations, the Grameen model has achieved limited success in countries other than those in South-East Asia, though the concept of microfinance has had better luck, with many countries now running profitable microfinance institutions that typically charge considerably higher interest rates for zero collateral loans than Grameen ever would.According to the passage, which one of the following statements is true?a)When Grameen started functioning, there were fewer people in the urban areas of Bangladesh who applied for a loan from it than there were when it became more successfulb)There is a limited scope of Grameen ’s success in countries outside South East Asia.c)Microfinance as a concept is more successful for for-profit oriented microfinance institutions than for Grameen.d)Granting a sum of money as charity to the poor is not a part of Grameen’s operations.e)Institutions offering traditional loans charge much higher interest rates than Grameen does.Correct answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of The Grameen Bank, founded in Bangladesh by Nobel Peace Prize Laureate, Dr. Muhammad Yunus, who is also credited for giving life to the concept of microcredit/microfinance, is one of the most popular models of social business, a business that operates primarily for addressing social needs and not for-profit. Based on the concept of microfinance, Grameen provides microloans, small loans, to the poor and those living beyond the reach of traditional finance, in order to promote income generating activities, avoiding the more traditional form of poverty alleviation - aid donations. The original focus of the Grameen Bank was on rural people with no credit history and no collateral. However, the bank rapidly expanded, giving the illusion of a win-win situation that yielded both profits for Grameen Bank and huge improvements in development for Bangladesh. Private, for-profit organizations around the world wrongly judged the situation, thinking that they could first and foremost profit from this type of venture while developing the country in the process. This view was indeed tainted since Grameen’s goal was development and any profits were an added bonus. Because of these wrong expectations, the Grameen model has achieved limited success in countries other than those in South-East Asia, though the concept of microfinance has had better luck, with many countries now running profitable microfinance institutions that typically charge considerably higher interest rates for zero collateral loans than Grameen ever would.According to the passage, which one of the following statements is true?a)When Grameen started functioning, there were fewer people in the urban areas of Bangladesh who applied for a loan from it than there were when it became more successfulb)There is a limited scope of Grameen ’s success in countries outside South East Asia.c)Microfinance as a concept is more successful for for-profit oriented microfinance institutions than for Grameen.d)Granting a sum of money as charity to the poor is not a part of Grameen’s operations.e)Institutions offering traditional loans charge much higher interest rates than Grameen does.Correct answer is option 'D'. Can you explain this answer?, a detailed solution for The Grameen Bank, founded in Bangladesh by Nobel Peace Prize Laureate, Dr. Muhammad Yunus, who is also credited for giving life to the concept of microcredit/microfinance, is one of the most popular models of social business, a business that operates primarily for addressing social needs and not for-profit. Based on the concept of microfinance, Grameen provides microloans, small loans, to the poor and those living beyond the reach of traditional finance, in order to promote income generating activities, avoiding the more traditional form of poverty alleviation - aid donations. The original focus of the Grameen Bank was on rural people with no credit history and no collateral. However, the bank rapidly expanded, giving the illusion of a win-win situation that yielded both profits for Grameen Bank and huge improvements in development for Bangladesh. Private, for-profit organizations around the world wrongly judged the situation, thinking that they could first and foremost profit from this type of venture while developing the country in the process. This view was indeed tainted since Grameen’s goal was development and any profits were an added bonus. Because of these wrong expectations, the Grameen model has achieved limited success in countries other than those in South-East Asia, though the concept of microfinance has had better luck, with many countries now running profitable microfinance institutions that typically charge considerably higher interest rates for zero collateral loans than Grameen ever would.According to the passage, which one of the following statements is true?a)When Grameen started functioning, there were fewer people in the urban areas of Bangladesh who applied for a loan from it than there were when it became more successfulb)There is a limited scope of Grameen ’s success in countries outside South East Asia.c)Microfinance as a concept is more successful for for-profit oriented microfinance institutions than for Grameen.d)Granting a sum of money as charity to the poor is not a part of Grameen’s operations.e)Institutions offering traditional loans charge much higher interest rates than Grameen does.Correct answer is option 'D'. Can you explain this answer? has been provided alongside types of The Grameen Bank, founded in Bangladesh by Nobel Peace Prize Laureate, Dr. Muhammad Yunus, who is also credited for giving life to the concept of microcredit/microfinance, is one of the most popular models of social business, a business that operates primarily for addressing social needs and not for-profit. Based on the concept of microfinance, Grameen provides microloans, small loans, to the poor and those living beyond the reach of traditional finance, in order to promote income generating activities, avoiding the more traditional form of poverty alleviation - aid donations. The original focus of the Grameen Bank was on rural people with no credit history and no collateral. However, the bank rapidly expanded, giving the illusion of a win-win situation that yielded both profits for Grameen Bank and huge improvements in development for Bangladesh. Private, for-profit organizations around the world wrongly judged the situation, thinking that they could first and foremost profit from this type of venture while developing the country in the process. This view was indeed tainted since Grameen’s goal was development and any profits were an added bonus. Because of these wrong expectations, the Grameen model has achieved limited success in countries other than those in South-East Asia, though the concept of microfinance has had better luck, with many countries now running profitable microfinance institutions that typically charge considerably higher interest rates for zero collateral loans than Grameen ever would.According to the passage, which one of the following statements is true?a)When Grameen started functioning, there were fewer people in the urban areas of Bangladesh who applied for a loan from it than there were when it became more successfulb)There is a limited scope of Grameen ’s success in countries outside South East Asia.c)Microfinance as a concept is more successful for for-profit oriented microfinance institutions than for Grameen.d)Granting a sum of money as charity to the poor is not a part of Grameen’s operations.e)Institutions offering traditional loans charge much higher interest rates than Grameen does.Correct answer is option 'D'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice The Grameen Bank, founded in Bangladesh by Nobel Peace Prize Laureate, Dr. Muhammad Yunus, who is also credited for giving life to the concept of microcredit/microfinance, is one of the most popular models of social business, a business that operates primarily for addressing social needs and not for-profit. Based on the concept of microfinance, Grameen provides microloans, small loans, to the poor and those living beyond the reach of traditional finance, in order to promote income generating activities, avoiding the more traditional form of poverty alleviation - aid donations. The original focus of the Grameen Bank was on rural people with no credit history and no collateral. However, the bank rapidly expanded, giving the illusion of a win-win situation that yielded both profits for Grameen Bank and huge improvements in development for Bangladesh. Private, for-profit organizations around the world wrongly judged the situation, thinking that they could first and foremost profit from this type of venture while developing the country in the process. This view was indeed tainted since Grameen’s goal was development and any profits were an added bonus. Because of these wrong expectations, the Grameen model has achieved limited success in countries other than those in South-East Asia, though the concept of microfinance has had better luck, with many countries now running profitable microfinance institutions that typically charge considerably higher interest rates for zero collateral loans than Grameen ever would.According to the passage, which one of the following statements is true?a)When Grameen started functioning, there were fewer people in the urban areas of Bangladesh who applied for a loan from it than there were when it became more successfulb)There is a limited scope of Grameen ’s success in countries outside South East Asia.c)Microfinance as a concept is more successful for for-profit oriented microfinance institutions than for Grameen.d)Granting a sum of money as charity to the poor is not a part of Grameen’s operations.e)Institutions offering traditional loans charge much higher interest rates than Grameen does.Correct answer is option 'D'. 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