Ensure credit as human right: Yunus - Video

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Inspired by Nobel laureate Muhammad Yunus, founder of the micro-credit pioneer Grameen Bank in Bangladesh, the Reserve Bank of India (RBI) is considering drafting a charter on "credit as human right."

"The (RBI central) board will look at having a charter to make credit as human right," said RBI Governor, Y V Reddy, after Yunus, on a visit to India for the first time since winning Nobel peace prize for pioneering lending to the poor in Bangladesh, delivered a lecture on the theme "Credit as Human Right".

Speaking at the lecture, Yunus said that the financial sector entities should start with the belief that credit should be accepted as a human right, and build a system where one who does not possess anything gets the highest priority in getting a loan.

"Poor are not responsible for their poverty. It is imposed on them by systems and policies and to help people to get out of poverty ... we have to fix systems", the Nobel laureate said.

"Just 2% of the people get 98% of the credit. We need a credit reform which will ensure every person has access to credit," Yunus said.