Micro-credit was invented 35 years ago in Bangladesh by Proof Dr. Muhammad Yunus.
Now it is most important and powerful to reduce poverty in rural area actively. So we
need to know the Theoretical and Operatical aspect of Microcredit system .
Grameen type microcredit or Grameencredit.
Other types of NGO microcredit.
Other types of non-NGO non-collateralized microcredit.
As of July, 2004, it has 3.7 million borrowers, 96 percent of whom are women. With
1267 branches, Grameen Bank provides services in 46,000 villages, covering more than
68 percent of the total villages in Bangladesh.
For getting microcredit at first we need a membership of that institution or
NGOs. After that make a group and then apply for loan and approve that. Lastly
distribution loan by that institution orNGOs.
Loans are small, but sufficient to finance the micro-enterprises undertaken by
borrowers: rice- husking, machine repairing, purchase of rickshaws, buying of milk
cows, goats, cloth, pottery etc. The interest rate on all loans is 16 percent. The
repayment rate on loans is currently - 95 per cent - due to group pressure and self-
interest, as well as the motivation of borrowers.
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