And now, some good news. I have been a huge admirer of Bangladesh's Grameen Bank-founder Muhammad Yunus. The nobel laureate's initiatives helped drastically reduce poverty in rural Bangladesh. Now, he is implementing a very workable plan to fund social business in India.
According to the Economic Times, Yunus is going to work with the Indian Institute of Management, Ahmedabad to float a Rs 50-crore fund to seed social ventures. I quote the ET, "Yunus defines a social business as one that pays no dividend to shareholders, but ploughs all profits back into the company whose purpose is to serve social needs."
Read more here
According to the Economic Times, Yunus is going to work with the Indian Institute of Management, Ahmedabad to float a Rs 50-crore fund to seed social ventures. I quote the ET, "Yunus defines a social business as one that pays no dividend to shareholders, but ploughs all profits back into the company whose purpose is to serve social needs."
Read more here
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