Microcredit

Microcredit is a facility that offers loans of small amounts to low-income individuals or groups to start a small business. Microcredit comes under microfinance, which is a line of finance that aims to provide financial support. It also includes savings accounts and other banking services. 

Institutions that offer microcredit include: 

• Government
• Non-Governmental Organisations (NGOs)
• Microfinance Institutions (MFIs)

Some Indian microcredit schemes include:

• Small Industries Development Bank of India (SIDBI)
• Pradhan Mantri Mudra Yojana (PMMY)
• Stand-Up India Scheme
• National Handicapped Finance and Development Corporation (NHFDC)