Micro Credit or Micro Finance Facility, India
Micro Credit/ Micro Finance Facility : A Lifeline for the Poor 1. What is Micro Credit ? Micro Credit is defined as provision of thrift, credit and other financial services and products of very small amount to the poor in rural, semi-urban and urban areas for enabling them to raise their income levels and improve living standards. Micro Credit Institutions are those which provide these facilities. 2. What are the interest rates applicable ? The reform of the interest rate…