Microcridit in India: Bottlenecus & Way Forward

On 21 August, 2019 a report on the micro-credit culture in India highlighted certain flaws in microcredit transactions which have led to reduced outcomes in the lives of its beneficiaries in a meaningful way.

Microcredit

It refers to the granting of very small loans to poor borrowers, to enable them for self-employment and to strengthen their businesses. Loans given as microcredit are often given to people who may lack collateral, credit history, or a steady source of income.

Need of microcredit

  • Poor live outside the ambit of formal economic institutions.
  • Small loans provide them an access to the larger economy and give ....
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