All of us must have experienced the ease and flexibility of online shopping in India. Moreover,...
|1.||Microcredit is the small loan facility provided to the people with less earning, to motivate them to become self-employed.||Microfinance refers to the number of financial services provided to the small entrepreneurs and enterprises who cannot take shelter of banks for banking and other services.|
|2.||Microcredit alludes to a small loan provided, at a low-interest rate, to the persons of below poverty line to make them self-employed, i.e., to help the small entrepreneurs start their own business.||Microfinance means the broad spectrum of financial services such as loans, insurance, savings, etc. provided to the people of low-income groups.|
|3.||Micro-credit includes credit activities||Micro-finance includes credit activities and non-credit activities like savings, pension, insurance, etc.|
|4.||Microcredits are small size loans with shorter repayment periods. They are granted for small-scale activities which direct to serve local needs.||Microfinance services help to low-income individuals and start-up in developing countries to start running a small business, increase assets, diminish risk, raise productivity, increase return on investments, increase incomes, improve access to education and eventually increase the welfare.|