Ela Bhatt, a Gandhian and a lawyer who founded the Self Employed Women’s Association in Gujarat, is sometimes referred to as the mother of microfinance. She helped start Mahila Sewa Co-operative Bank in 1974, two years before Muhammad Yunus began the project that would later become Grameen Bank. Ms. Bhatt, who is also a member of The Elders, was recently appointed to the board of the Reserve Bank of India, the country’s central bank....
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