What is Microfinance?
Microfinance is a sort of small finance business where individuals can get advances that incorporate limited quantities. These sorts of credits are given to helpless people and private venture associations. The loan that the Microfinance Company gives, named as Micro-credit.
How the Concept of Microfinance came to existence?
The idea of Microfinance isn’t old. Mr. Mohammed. Yunus from Bangladesh is viewed as the pioneer of Microfinance. He established the acclaimed Grameen Bank in Bangladesh which is considered to be the principal Micro-credit Banking foundation. The term Microfinance can be utilized for Micro reserve funds, Micro Loans, and Micro Insurance sort of administrations.