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)
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