Pics: Spoorthi Ullal

Daijiworld Media Network - Mangaluru (JS)

Mangaluru, Mar 25: Nitte Institute of management and social business academic network- India chapter jointly organised a half day seminar on social business in India, opportunities and challenges, here at Nitte Institute of Catering Studies & Hotel Administration campus, Pumpwell on March 25.

The seminar was formally inaugurated by Dr N K Thinglaya, former chairman and managing director of Syndicate Bank by lighting the lamp along with other dignitaries.

Addressing a gathering he said, "The concept of grameen bank or rural bank in Bangladesh was started by Dr Yunus. Here in India it was started by Dr Maidavolu Narasimham, former governor of Reserve Bank of India. In Bangladesh there is one national grameen bank and several branches, but in India the concept of grameen bank got changed with the coming of cooperative banks. I have noticed grameen banks in Bangladesh charge 20 percent interest while cooperative banks in India charge 10 percent interest. Inspite of charging 20 percent by grameen bank in Bangladesh, the profit goes back for the welfare of society. Poverty in our economy is too deep-rooted to be eradicated. According to the new RBI statistics, we have 127 crore population. The number of deposit accounts are 144 crore whereas credit accounts are 14 crore out of which only 4.91 crore are rural credit accounts. So in a country with such a huge population we have to reach out to all the people. If this is the case how can poverty be reduced?"

"We have made the country a green revolution. There is need to increase the yield, but the pesticides used are causing a different kind of disease among farmers. There has been increase in the number of farmer sucides in the country. The reason for the suicide is not because they have taken loans from banks but because of external sources. We have built very big hospitals and medical colleges in the country. But there are many primary health centres which lack facilities. When services reach rural areas, only then  poverty can be reduced. This is the emphasis laid on by social businesses- make profit with the goal to give back to society."

Ram Mohan Pai, president of Kanara chambers of commerce and industry, Dr Yashwanth Dongre, professor C S Shastry, M S Moodithaya and others were present.