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Seek new ways to reach goals, says Nobel laureate Muhammad Yunus at NITI Aayog event


NEW DELHI: Nobel laureate Muhammad Yunus told NITI Aayog on Monday that, old ways cannot lead to new destinations and to reach unachieved goals, institutions must tread on new paths. The think-tank panel hosted Yunus for a discussion on the role of business in achieving zero poverty.

“Yunus shared his experiences in Bangladesh in taking the concept of social business to rural parts of the country.

He said that charity doesn’t yield sustainable goals, but if it’s turned into a social business model by generating profits there could be multiplying effects on achieving intended goals,” said a senior official of NITI Aayog.

The think-tank panel as part of the aspirational district program, which is being implemented in over 100 districts across the country, is working with the district administrations to tackle a host of issues, including malnutrition. 

Yunus is credited to have pioneered rural banking in Bangladesh, which fuelled self-help group movements for wider socio-economic empowerment of the people.

The discussion at NITI Aayog was focused on the subject of “Business as a Force for Good: Role of business in achieving zero poverty, zero unemployment, and zero net carbon emissions.”

“Yunus dwelt upon the concept of social business. He has taken this model to the US among other countries.

Participation of a large number of people in such social business models is aimed at tapping the collective strengths of the people for wider socio-economic empowerment of the mass,” said the official.

Expounding on his belief that new pathways must be tried to reach new destinations, Yunus, stated that his Grameen banking in Bangladesh made it the norm, for branches to come up only in rural areas. “He said that his bank network has no branch in urban areas,” said the official.