muhammad yunus's microfinance was too good to be true
Aug 30, 2024, 15:48 (IST)
Microfinance, initially spotlighted through muhammad yunus's Grameen Bank, gained global traction as an anti-poverty tool by issuing small loans to poor women. However, it faced criticism over high interest rates and a shift from microcredit to megaprofits. Today, the focus has moved towards financial inclusion and digital lending, away from public investments.