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Paragraph : Micro Credit
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Last Updated 23-Sep-2021 | 10:29 AM |
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Micro Credit
'Micro Credit' means a very small amount of credit. However, this small amount of money can be very helpful for an extremely poor person. In the present condition, it is very difficult for a poor man to get any amount of loan from a bank without any security. Dr Mohammad Younus thought about this problem and invented a system through which thousands of people are getting micro-credit without any kind of mortgage or security. It is also amazing that the rate of loan repayment is very high. It is about 98.85%. This idea of poverty alleviation through micro-credit has become very popular and being implemented in more than one hundred countries of the world.
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