Tag: Financial system

Kolkata : Nobel laureate and micro-finance founder Muhammad Yunus on Tuesday said the existing financial and banking systems in the world have fundamental flaws as they direct people to work only for their own benefit, not caring about society. "I think the existing banking structure is fundamentally wrong. The policy of the banking system is such that the people who have more money will get higher loans. This is the base of any banking system. "Ideally it should have been just the reverse. One who has less should get the loans...