Date:16/10/2006 URL: http://www.thehindu.com/2006/10/16/stories/2006101601391000.htm

Opinion - Letters to the Editor

Peace Nobel

That the Grameen Bank of Bangladesh and its founder Muhammad Yunus have been awarded the Nobel Prize for peace is wonderful news. The citizen of so young a nation, who started the venture by lending a modest $27, getting the coveted prize for fighting poverty is a stamp of recognition for grass-roots service.

M. Aruljothi, BR> Chennai

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Mr. Yunus' concept of microcredit has already won several awards from the poorest of the poor in Bangladesh and many other countries that have copied it. Microcredit has helped not only the rural poor but also banks because loan recovery is 100 per cent. Hearty congratulations to Mr. Yunus and hats off to the Nobel Committee for the excellent decision.

K.A.V.S. Prasad, BR> Nizamabad, A.P.

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The Grameen Bank has improved the standard of living of millions of poor, most of them women, by providing microcredit without collateral security. Inspired by the experiment, India too adopted the microcredit concept and lent money to individuals and self-help groups. But it has not been as successful here. A team of officials from the Finance Ministry, NABARD, nationalised and cooperative banks should visit Bangladesh to study the working of the Grameen Bank and help replicate the experiment successfully in India.

R. Thirunarayanan, BR> Charlotte, North Carolina

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Mr. Yunus and the Grameen Bank made it possible for millions to live with dignity. They can walk with their heads held high because they have been able to realise their potential. This is perhaps a rare occasion when the Nobel has been awarded to a person and institution that worked to generate peace and happiness with dignity.

Subramaniam Shankar, BR> Palakkad, Kerala

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Mr. Yunus richly deserves the prize. His achievement is a source of inspiration for those who aspire to do something for humankind.

Paramjeet S. Berwal, BR> New Delhi

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The economics professor has successfully translated theory into practice. He has proved that the relevance of economics lies in benefit to the poor — a feat not achieved by Indian economics wizards who have had awards heaped on them but have essentially remained theorists.

A. Raghunathan, BR> Tiruchi, T.N.

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The Peace Nobel for the "Banker to the poor" is indeed heartening. Some of us have seen the Grameen Bank in logos sported by Bangladesh cricketers (GrameenPhone, which works in collaboration with the Grameen Bank, sponsored the Bangladesh cricket team through 2005-2007 and was one of the main sponsors of the live telecast of the ICC World Cup Cricket 2003).

An economist like Mr. Yunus could have perhaps saved hundreds of farmers in Kerala, Maharashtra, and Andhra Pradesh who ended their lives because they were caught in vicious debt-traps.

Colonel C.V. Venugopalan (retd.), BR> Palakkad, Kerala

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Peace cannot be achieved unless poverty is eliminated, and Mr. Yunus has been toiling all his life to achieve this goal.

N. Balamurugan, BR> Kochi, Kerala

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Mr. Yunus' vision of achieving a poverty-free world is commendable. He has proved that even the poorest of the poor can work to bring about their own development.

Farzana Nigar, BR> Ranchi

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The microcredit concept has not only changed the living conditions of Bangladeshi women but has also given them the confidence of being partners in development. In India too, the SHG movement has made rural women economically independent. We Indians join our neighbour in celebrating the honour.

B.N. Bharath, BR> Kodagu, Karnataka

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Mr. Yunus has translated his vision into action for the benefit of millions. He created opportunities for a large number of people to get out of poverty, in the process creating conditions for sustainable peace.

K.G. Sudheendra, BR> Dharwad, Karnataka

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The Grameen Bank is a source of inspiration for all those who aspire to ameliorate the conditions of our fellow countrymen. One need not have the resources but only a strong conviction to surmount all odds.

Brij Bhushan Vyas, BR> Jodhpur

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Hats off to the beneficiaries of the Grameen Bank's microcredit for making it a huge success. Had they failed to repay the loan, the concept would have failed. We hope the system will succeed in India too and help in reducing poverty.

J.P. Reddy, BR> Nalgonda, A.P.