> Posted by Center Staff
Bhatt, who is sometimes called the “mother of Indian microfinance,” helped start the Mahila Sewa Co-operative Bank in 1974, two years before Muhammad Yunus initiated the project that would later become Grameen Bank.
- “The future of microfinance sector, as such, is not dark. One, because of women – amongst the poor, women are a big part of it. They have proved themselves everywhere.”
- “The poor need a full package of financial services, savings, credit, insurance — I also add housing — social security, financial literacy, pensions and counseling. If the purpose is poverty reduction, that whole package of financial services is needed.”
- “Making profit and surplus is acceptable. It has proved that it can stand on its own.”
The Center for Financial Inclusion welcomes Bhatt’s appointment and hopes it is a sign that the voice of the microfinance sector will be heard with increasing clarity among India’s policymakers.
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