Microcredit can be generally known as as banking for the poor. It’s an progressive approach to empower very poor people all over the world to pull them out of the mires of poverty and to realize self confidence through self employment. It is actually microfinance institutions that provide microcredit companies. The concept of microfinance originated in Bangladesh where an individual, Mohammad Yunus, who later went on to win the Nobel Peace Prize in 2008, developed the concept was implemented with…